Central Hithadhoo PNC Ahmed Azaan Marzooq stated yesterday that the S. Hankede developmental concepts that were revised by the government need to be changed.
Azaan took to X (formerly known as Twitter) and expressed that he and residents of Addu object to the stoppage of the Hankede project, along with the changes to Hankede's development concept.
He also stated that the Hankede project was to finish development through a sizeable loan of USD 120 million was taken out from the Bank of China, and even though this was done during the previous administration, it should be honored by the current one due to the "advanced stage" the loan agreement was at.
A portion of the owed advance has already been paid to the contractor as well, Azaan further states.
He goes on to say that the current government vowed to finish the Hankede project the previous government had started, with celebratory fireworks alongside a formal announcement in April 2024 to mark such the promise.
"The government has scrapped the Hankede project and announced a new concept. This is most concerning", says Azaan.
He says that the reason why the process of acquiring the Hankede loans have grinded to a halt is due to the fact the government has asked for more time concerning the loans it has taken out from various banks in China. The banks have strict rules and and guidelines that do not allow extra loans to be taken out while this process is underway.
In my eyes, the reason why the Hankede project loan processes didn't move forward is due to the request made to grant more time to settle the existing loan that's in effect: Central Hithadhoo PNC Ahmed Azaan
"It is not an easy task to find sources of investment for Addu, even if you announce new projects every so often. This issue keeps cropping up due to the fact that tourism development in Addu is low compared to other places. No one is investing, even when there are discounts on island pricing."
He says that stopping the project as a whole without discussing it with all involved parties is a step towards losing the trust of investors and banks.
"I call for a change in this decision by the government", Azaan stated.
The government announced plans to develop Hankede in 2005, 20 years ago. The governments that came afterwards have also announced the project time and time again, to no avail.
During the previous government, the Maldives Fund and Management Corporation (MFMC) gave the task of developing Hankede to China's National Electrical Engineering company. After the current government came into power, they announced the Hankede project once again during a People's Majlis hearing, complete with celebratory fireworks. Nevertheless, their plans have changed since then.
When the Ministry of Tourism announced plans to develop halal tourism locations, Hankede was mentioned in that list.
